ment i Saved Exercise 1-16 (Algo) Computing net income using accounting equation LO P2 Shep Company's records show the following information for the current year. Total assets Total liabilities Beginning of year $ 56,000 $ 25,000 End of year $ 87,500 $ 38,000 Determine net income (loss) for each of the following separate situations. (For all requirements, losses should be entered with a minus sign.) a. Additional owner investments of $6,000 were contributed, and withdrawals of $10,000 were made during the current year. b. Additional owner investments of $15,750 were contributed, and no withdrawals were made during the current year. c. No additional owner investments were contributed, and withdrawals of $15,000 were made during the current year. a. Net income (loss) b. Net income (loss) c. Net income (loss)